GOLD producer Pan African Resources said yesterday that it had been approved for a secondary listing on A2X Markets.
Pan African is a mid-tier African-focused gold producer with a production capacity of roughly 200 000 ounces of gold per annum. The company owns and operates a portfolio of quality, high-margin operations and projects in South Africa.
Its ordinary shares would become available for trade on the stock exchange from December 13.
Pan African said it would retain its primary listings on the Alternative Investment Market (AIM) of the London Stock Exchange and on the JSE and its Level-1 ADR programme in the US (ADR). Its issued share capital would be unaffected by the secondary listing on A2X.
Pan African chief executive Cobus Loots said, “Pan African has a track record of pursuing innovation and new technologies to generate efficiencies, compelling returns and long-term performance, and our listing on A2X is another example of this. Our investors will now enjoy the benefits offered by A2X, including added liquidity, lower exchange fees and narrower spreads.”
BUSINESS REPORT